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Posted on 04/23/2026 8:28:57 AM PDT by Miami Rebel
If the Senate wants to fight inflation and put the US economy on an even keel, it should confirm Kevin Warsh to head the Federal Reserve Board as soon as possible.
Warsh’s confirmation hearing Tuesday before the Senate Banking Committee should remove any doubt that he’s the right man to head the Fed.
A Stanford professor who served on the Fed board from 2006 to 2011, he’s won the respect of almost everyone, including many Democrats.
Warsh made that clear Tuesday, echoing what he stressed in 2010: “Independence in the conduct of monetary policy is at the core of advanced modern economies.”
“The president never asked me to commit to interest rate cuts,” Warsh testified, “nor would I have ever done so.”
In any event, Warsh is about as hawkish as you can get on inflation.
He (correctly) sees it as the worst thing for lower-income folks, and blasted the Fed for having “missed the mark” in letting it soar in 2021 and 2022 — the “biggest policy error in 40 or 50 years.”
At the same time, he’s indicated that interest rates might well be able to come down, especially if AI boosts productivity.
Warsh is also likely to move to begin rolling back the Fed’s purchases of private assets — a practice that pushes up all asset prices, mainly benefiting the wealthy.
Hmm: You’d think Democrats, who detest the rich and supposedly champion the poor, would love this guy.
Instead, Warren slammed him for being wealthy, ludicrously suggesting that creates a conflict of interest — though he’s agreed to divest nearly all his assets.
If a replacement isn’t set to go by Powell’s last day as chairman, May 15, and the economy falters, Republicans will pay a price.
(Excerpt) Read more at nypost.com ...
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“ If the Senate wants to fight inflation and put the US economy on an even keel,…”
I see no evidence that the Senate wants that.
L
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